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Fitness Firm Tonal Seeking $1.9 Billion Value With Financing

  • Home gym startup could raise more than $100 million in round
  • Serena Williams, Drew Brees and Mike Tyson have backed Tonal
Serena Williams in an ad for Tonal.

Serena Williams in an ad for Tonal.

Source: Tonal
Updated on

Home fitness business Tonal Systems Inc. is raising financing that would value the company at about $1.9 billion, according to people familiar with the matter.

The fresh funding is expected to exceed $100 million and would give Tonal the capital to continue growing as it deals with supply-chain challenges, said the people, who asked to not be identified because the matter isn’t public. Tonal said it raised $250 million at a $1.6 billion valuation last year.